Hims & Hers Health recently announced its intent to bring generic semaglutide to Canada. This move represents the company’s thrilling expansion into the Canadian pharma scene. This announcement follows closely on the heels of Hims & Hers Health’s purchase of Zava, a European telehealth platform. Today, they have the opportunity to greatly broaden their use across Europe – especially in Ireland, France and Germany.
Hims & Hers Health is launching its move into Canada right as Novo Nordisk’s patents on Ozempic and Wegovy are about to expire. Those patents expire this January, opening the door for new players to the market. Canadian officials affirmed that there is no possibility of reviving a patent that has already expired. This decision now opens the floodgates for generic competition to come.
David Meinertz, general manager of international business at telehealth company Hims & Hers Health, pointed to Canada as a big opportunity. The company is looking forward to tapping into that potential. “Making affordable, holistic obesity treatment accessible has the potential to help strengthen the local healthcare system and unlock the potential for millions of Canadians to live healthier, more fulfilling lives,” he said.
In 2024, the Canadian semaglutide market was just over $1.18 billion in revenue, making the Canadian market quite large. Grand View Research estimates that this figure will increase to $4.03 billion by 2035. Consumers’ growing desire to manage their weight hipters believe that real or perceived demand hroughout the region.
Hims & Hers Health is looking to ride the wave of that market opportunity. To do so, they say they will build on their recent acquisition of Zava. We are excited to grow our services with this acquisition. It lays the groundwork for the newly merged company to provide high-quality, low-cost healthcare solutions in various geographies. Andrew Dudum, co-founder and CEO of Hims & Hers Health, emphasized the importance of this initiative by stating, “Canada is a major opportunity to show what affordable, high-quality weight loss care can look like.”
Sandoz, one of the world’s largest producers of generic medicines, is getting ready to expand their operations in Canada. As a result, they’ve already submitted an application for Health Canada’s approval of a generic version of semaglutide. For others, the approval process for generic versions is still under way. Thus far, Canadian authorities have yet to greenlight any generic semaglutide.
Even Novo Nordisk seemed to sagely recognize that the political landscape has shifted against pharmaceutical exclusivity. A spokesperson commented that “periods of exclusivity for pharmaceutical products end as part of their normal life cycle and generic treatments may become available over time.” This transition opens doors for companies like Hims & Hers Health to offer alternative treatments to Canadians seeking effective weight loss solutions.
Hims & Hers Health is committed to meeting the needs of Canadians for holistic, effective, and accessible obesity treatment options. The company is focused on providing high-quality, affordable healthcare. This commitment helps advance its broader mission – to improve healthcare outcomes for individuals and communities through pioneering telehealth innovation.